Grandview Asset Management LLC Grows Stock Position in Enterprise Products Partners L.P. (NYSE:EPD)

Grandview Asset Management LLC lifted its holdings in shares of Enterprise Products Partners L.P. (NYSE:EPDFree Report) by 3.7% during the first quarter, according to its most recent disclosure with the SEC. The fund owned 13,340 shares of the oil and gas producer’s stock after acquiring an additional 478 shares during the period. Grandview Asset Management LLC’s holdings in Enterprise Products Partners were worth $389,000 at the end of the most recent quarter.

Other hedge funds have also recently modified their holdings of the company. Alps Advisors Inc. increased its position in shares of Enterprise Products Partners by 20.2% in the 3rd quarter. Alps Advisors Inc. now owns 37,951,428 shares of the oil and gas producer’s stock valued at $1,038,731,000 after acquiring an additional 6,369,350 shares during the period. Blackstone Inc. increased its holdings in shares of Enterprise Products Partners by 12.0% in the third quarter. Blackstone Inc. now owns 23,133,885 shares of the oil and gas producer’s stock valued at $633,174,000 after purchasing an additional 2,472,847 shares during the period. American Century Companies Inc. raised its stake in shares of Enterprise Products Partners by 14.2% in the third quarter. American Century Companies Inc. now owns 17,331,648 shares of the oil and gas producer’s stock worth $474,367,000 after purchasing an additional 2,155,640 shares during the last quarter. Invesco Ltd. lifted its holdings in shares of Enterprise Products Partners by 10.5% during the third quarter. Invesco Ltd. now owns 10,164,886 shares of the oil and gas producer’s stock worth $278,213,000 after purchasing an additional 969,199 shares during the period. Finally, Deutsche Bank AG boosted its position in Enterprise Products Partners by 2.6% in the third quarter. Deutsche Bank AG now owns 4,884,123 shares of the oil and gas producer’s stock valued at $133,678,000 after buying an additional 125,450 shares during the last quarter. Institutional investors and hedge funds own 26.07% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have recently commented on EPD shares. Morgan Stanley dropped their price objective on shares of Enterprise Products Partners from $35.00 to $34.00 and set an “equal weight” rating on the stock in a report on Monday, June 10th. JPMorgan Chase & Co. cut their price target on Enterprise Products Partners from $33.00 to $32.00 and set an “overweight” rating on the stock in a research report on Thursday, May 16th. Wells Fargo & Company boosted their price objective on Enterprise Products Partners from $32.00 to $33.00 and gave the company an “overweight” rating in a report on Thursday, April 4th. Scotiabank raised their target price on Enterprise Products Partners from $31.00 to $32.00 and gave the stock a “sector outperform” rating in a report on Thursday, April 4th. Finally, Mizuho reissued a “buy” rating and issued a $34.00 price target on shares of Enterprise Products Partners in a report on Thursday, April 4th. Two equities research analysts have rated the stock with a hold rating, eleven have issued a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Buy” and a consensus target price of $32.77.

Read Our Latest Report on EPD

Enterprise Products Partners Price Performance

Shares of EPD stock traded up $0.02 on Friday, reaching $28.60. 1,831,799 shares of the company were exchanged, compared to its average volume of 4,537,597. Enterprise Products Partners L.P. has a 1 year low of $25.61 and a 1 year high of $29.99. The company has a debt-to-equity ratio of 0.99, a quick ratio of 0.68 and a current ratio of 0.93. The business has a 50-day moving average price of $28.48 and a 200 day moving average price of $27.77. The company has a market cap of $62.11 billion, a price-to-earnings ratio of 11.27, a P/E/G ratio of 1.31 and a beta of 1.03.

Enterprise Products Partners (NYSE:EPDGet Free Report) last posted its quarterly earnings data on Tuesday, April 30th. The oil and gas producer reported $0.66 EPS for the quarter, topping the consensus estimate of $0.64 by $0.02. The company had revenue of $14.76 billion during the quarter, compared to analyst estimates of $13.82 billion. Enterprise Products Partners had a return on equity of 19.73% and a net margin of 10.76%. Enterprise Products Partners’s quarterly revenue was up 18.6% on a year-over-year basis. During the same period in the previous year, the business earned $0.64 EPS. Equities research analysts forecast that Enterprise Products Partners L.P. will post 2.73 earnings per share for the current fiscal year.

Enterprise Products Partners Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, May 14th. Shareholders of record on Tuesday, April 30th were paid a dividend of $0.515 per share. The ex-dividend date was Monday, April 29th. This represents a $2.06 annualized dividend and a yield of 7.20%. Enterprise Products Partners’s dividend payout ratio (DPR) is presently 80.78%.

Enterprise Products Partners Company Profile

(Free Report)

Enterprise Products Partners L.P. provides midstream energy services to producers and consumers of natural gas, natural gas liquids (NGLs), crude oil, petrochemicals, and refined products. It operates in four segments: NGL Pipelines & Services, Crude Oil Pipelines & Services, Natural Gas Pipelines & Services, and Petrochemical & Refined Products Services.

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Institutional Ownership by Quarter for Enterprise Products Partners (NYSE:EPD)

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